British indie publisher Team 17 has announced that its year-on-year revenue increased by 46 per cent in 2018.
The company’s impressive financial news comes less than a year after it completed a successful IPO on AIM. Team 17’s revenue jumped from £26.5 million in 2017 to £43.2 million in 2018, and corresponding gross profits rose from £16.9 million in 2017 to £19.8 million in 2018.
Team 17’s CEO, Debbie Bestwick, said: “I’m delighted to report on an excellent year for Team17, delivering record revenues and operating profits in the period as well as successfully completing our listing on the Alternative Investment Market. This result was successfully driven by delivery of our ever-growing portfolio during 2018. We have continued to build upon the enviable track record of revenue and profit growth shown over previous years coupled with our ability to effectively manage the lifecycle of our games.
“We believe there are more opportunities than ever before for content creators and publishers with the rapid uptake and more openness of digital distribution platforms alongside new emerging distribution methods. We have a solid pipeline of game launches in 2019 and look forward to updating our shareholders on our continued progress in due course.”
In 2018, Team 17 launched 12 games and grew from 128 to 167 employees. Most recently, it announced that the game My Time AT Portia will be released for Nintendo Switch, PlayStation 4 and Xbox One on April 16. For more information on Team 17 and its upcoming games, keep an eye on its website.